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The question

What is the jurisprudential ruling on a company that grants a sum for investment in Forex without a deposit, with the possibility of withdrawing profits after a specified period, and is it permissible to use haram gains to purchase gaming credit for entertainment?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

First: It is not permissible for companies to give money for investment in Forex in exchange for conducting transactions through them. This is because it combines brokerage and a loan (al-salaf), which is forbidden in Islamic law. All contracts of exchange, including brokerage, are subject to the rulings of sale.

Second: The profits resulting from the use of financial leverage (margin) are prohibited. One must dispose of these profits by giving them to the poor and needy, unless the trader was ignorant of the prohibition, in which case it is permissible for them. Or if they were poor and in need, it is permissible for them to take what they need and dispose of the rest. However, if they were aware of the prohibition, they must dispose of the profit and are not allowed to benefit from it.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
16509
Imported
Translation status
Source text, unreviewed
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